"Another credit card offer," my daughter, a college senior reported, ripping up the entire envelope and tossing it into the garbage can.
I sighed, so thankful that she had not been enticed. Credit card companies target college students, giving them credit cards at an early age, to make them think that using a credit card is a normal part of the rest of their lives. Many college students not only graduate with student loan debt, but also graduate with credit card debt. What an awful way to begin life as an adult.
Through the years, I have watched people use credit cards in a destructive way, sabotaging their financial goals with these little plastic rectangles.
Harm of Credit Cards
Betty's debt is escalating quickly because the interest rate on her credit card is so high. Credit cards have an extremely high interest rate.
Instead of using a credit card, pray and ask God to provide what you need or want. If He says, "Yes" to your request, then He will give you money or provide it directly. If not, He wants you to delay gratification.
Value of Credit Cards
Sometimes you can earn cash when you use your credit card to pay bills and purchase necessary items.
The only way to use a credit card wisely is to pay it off every month before you have to pay interest.
Be sure to pay your credit card bill IN FULL at the end of every month. Leave NO balance due. Credit cards have a window before you have to pay interest, so if you pay your balance off every month, you will never pay interest.
Should You Use Credit Cards in an Emergency?
Don't use credit cards unless you have the cash to pay your bill off at the end of the month. Your cash should be set aside as soon as you use the credit card. Even in an emergency situation, don't use a credit card if you don't have the money to pay the bill.
We belong to Jesus! He can provide in emergencies. He doesn't need the help of a credit card.
Using Credit Cards Responsibly
Use this principle with credit cards. If you can't use credit cards without going into debt, then get rid of them. Your life can be full without them. Put Jesus back on the throne and wait on Him to provide all your wants and needs! It is amazing to see how God provides, and gives Him all the glory in return.
If you are want to learn more about finances or teach economics and financial management to your high school teen, let me recommend Economics, Finances, & Business, a one-credit high school course using living books and hands-on projects. You can purchase Economics, Finances, & Business at Amazon. The E-book is available at PayHIp or Currclick.
Charge! With Wisdom!
Merey (Meredith Ludwig Curtis)